Published on 7/10/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.82 million contingent coupon callable yield notes on indexes
By Susanna Moon
Chicago, July 10 – Credit Suisse AG, London Branch priced $2.82 million of contingent coupon callable yield notes due June 30, 2020 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon an annual rate of 9.1% if each index closes at or above its 70% coupon barrier on the observation date for that period.
The payout at maturity will be par unless either index finishes below its 70% knock-in level, in which case investors will lose 1% for each 1% decline of the worse performing index.
The notes will be callable at par on any interest payment date other than at maturity beginning Dec. 29, 2017.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon callable yield notes
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| Underlying indexes: | Russell 2000 index and Euro Stoxx 50 index
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| Amount: | $2,822,000
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| Maturity: | June 30, 2020
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| Coupon: | 9.1% per year, payable semiannually, if each index at or above 70% coupon barrier on observation date for period
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| Price: | Par
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| Payout at maturity: | Par unless either index finishes below 70% knock-in level, in which case 1% loss for each 1% decline of worse performing index
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| Call option: | At par on any interest payment date other than at maturity beginning Dec. 29, 2017
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| Initial levels: | 3,543.68 for Stoxx and 1,414.778 for Russell
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| Knock-in levels: | 2,480.576 for Stoxx and 990.34446 for Russell; 70% of initial levels
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| Pricing date: | June 23
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| Settlement date: | June 30
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.85%
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| Cusip: | 22550B6Z1
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